South Dakota beef producers are currently faced with rising input costs and falling cattle prices. Few beef cow-calf producers know what their breakeven price is for their product (calves). There are numerous costs influencing breakeven price such as feed price, fuel, fertilizers for crops/hay, and pasture rental rate. Producers learned how individual cost levels change their breakeven price and how to implement risk management strategies to protect their business. During the cow/calf shortcourse we covered the use of production and financial analysis tools. Producers were provided with information and materials to enhance their ability to maintain records and use production and financial analyses in their decision making. We had 15 cow-calf producers participate in the shortcourse between the two locations with 8 determining their cost of production and breakeven price and 6 producers developed a plan to improve their risk management strategies. Five producers worked on their estate planning.
Number of Participants: 15
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REPORTS & EVALUATIONS
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